Would Emerging Tax Bill Help a Code Overhaul Later? Maybe

Would the giant tax bill being unveiled Tuesday make it easier for Congress to later overhaul the tax code? Maybe.

Republicans say the plan “reduces the baseline for getting to comprehensive tax reform,” as Senate Majority Leader Mitch McConnell said ahead of the bill’s release.

Here’s what he means: Congressional scorekeepers assume tax cuts with expiration dates will expire as scheduled, even breaks such as the research and development tax credit that are popular, bipartisan — and virtually always get extended without offsetting tax increases or spending cuts.